Syngenta seeks seed company acquisitions and partnerships
Mar. 2, 2018
Chinese-owned Syngenta is upping the ante on seed investments, with $400 million earmarked for growth and expansion in the next few years. The company is adding a significant number of staffers, expanding research capabilities and “aggressively seeking acquisition and partnership opportunities.”
“You can expect that we’re going to be aggressive in the pursuit of any acquisitions that complement our portfolio,” says David Hollinrake, Syngenta seeds president for North America. “Nidera is a recent acquisition that is a proof point. They offer market leading genetics in South America for soybeans and corn, which is supplemental to our capabilities there.
“We’re doubling down on the U.S. seeds business and adding incremental investments that support the growth of the business,” he adds. “We want to improve on our current [market share] position at a distant No. 3, to a closer No. 3 with an eye on No. 2.”
For further proof, Syngenta recently announced it entered a global seed treatment licensing agreement with Nippon Soda, a Japanese chemical company. Syngenta will gain access to picarbutrazox, a novel chemical active ingredient for Pythium control. Companies say it shows “robust and reliable performance for the control of Pythium damping off and seedling blight diseases under many different cropping systems.”
Registration for picarbutrazox isn’t expected until 2019 in U.S. and Canada.